Sawgrass Asset Management LLC Sells 8,384 Shares of Copart, Inc. (NASDAQ:CPRT)

Sawgrass Asset Management LLC trimmed its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 5.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 136,411 shares of the business services provider's stock after selling 8,384 shares during the quarter. Sawgrass Asset Management LLC's holdings in Copart were worth $7,829,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Principal Financial Group Inc. grew its holdings in Copart by 2.5% in the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider's stock worth $2,037,130,000 after acquiring an additional 941,858 shares during the last quarter. State Street Corp raised its stake in Copart by 0.4% in the third quarter. State Street Corp now owns 34,157,967 shares of the business services provider's stock worth $1,789,877,000 after buying an additional 120,939 shares in the last quarter. Edgewood Management LLC lifted its stake in shares of Copart by 0.6% in the 3rd quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider's stock valued at $1,077,119,000 after purchasing an additional 125,220 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Copart by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider's stock valued at $979,547,000 after buying an additional 291,580 shares in the last quarter. Finally, Barclays PLC grew its holdings in Copart by 0.4% in the third quarter. Barclays PLC now owns 6,042,734 shares of the business services provider's stock worth $316,639,000 after purchasing an additional 21,710 shares during the period. Hedge funds and other institutional investors own 85.78% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. raised their price objective on Copart from $55.00 to $60.00 and gave the company a "neutral" rating in a research report on Tuesday, November 19th.

Copart Price Performance

CPRT stock traded down $0.44 during trading on Monday, hitting $59.39. 2,392,531 shares of the stock traded hands, compared to its average volume of 3,039,759. The stock has a market cap of $57.22 billion, a price-to-earnings ratio of 41.82 and a beta of 1.33. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The firm's 50 day moving average is $58.29 and its two-hundred day moving average is $55.45.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, hitting analysts' consensus estimates of $0.37. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.10 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. The firm's revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.34 EPS. As a group, analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Daniel J. Englander sold 235,480 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total value of $16,038,273.17. Following the completion of the sale, the chairman now directly owns 14,436,557 shares of the company's stock, valued at $920,907,971.03. The trade was a 1.71 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 650,213 shares of company stock worth $39,199,813. 9.68% of the stock is owned by corporate insiders.

Copart Profile

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.